Abstract

NEME CASTILLO, Omar; VALDERRAMA SANTIBANEZ, Ana Lilia; RIOS BOLIVAR, Humberto  and  BRISENO PEREZYERA, José Israel. Per capita income and foreign opening: An analysis for Latin America and the Caribbean. Oikos Polis [online]. 2017, vol.2, n.2, pp. 2-30. ISSN 2415-2250.

Abstract: This paper discusses the relationship between international opening, measured by several variables, and per capita income in 21 countries of Latin American and the Caribbean in the period 1977-2015. A neoclassical endogenous growth model is developed with human capital, international trade and foreign technological capital stock. Econometric estimation employs a panel data methodology. It is estimated that technology of exclusive use of foreign firms as well as capital goods imports drive per capita income.

Keywords : Per capita income; international trade; Latin America and The Caribbean.